TimkenSteel Co. Expected to Post Q3 2022 Earnings of $0.42 Per Share (NYSE:TMST)

TimkenSteel Co. (NYSE:TMSTGet Rating) – Research analysts at KeyCorp upped their Q3 2022 EPS estimates for TimkenSteel in a research note issued to investors on Tuesday, September 20th. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $0.42 per share for the quarter, up from their prior forecast of $0.41. KeyCorp currently has a “Overweight” rating and a $24.00 price target on the stock. The consensus estimate for TimkenSteel’s current full-year earnings is $3.25 per share. KeyCorp also issued estimates for TimkenSteel’s Q4 2022 earnings at $0.32 EPS, FY2022 earnings at $2.95 EPS and FY2023 earnings at $1.35 EPS.

TimkenSteel (NYSE:TMSTGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The basic materials company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.04). TimkenSteel had a return on equity of 30.97% and a net margin of 15.09%. The business had revenue of $415.70 million during the quarter, compared to the consensus estimate of $413.30 million.

Separately, StockNews.com downgraded TimkenSteel from a “buy” rating to a “hold” rating in a report on Monday, August 8th.

TimkenSteel Trading Down 0.2 %

Shares of TimkenSteel stock opened at $14.82 on Thursday. The company’s 50-day moving average price is $16.80 and its two-hundred day moving average price is $19.49. TimkenSteel has a 52 week low of $12.46 and a 52 week high of $26.23. The stock has a market cap of $685.05 million, a PE ratio of 3.61 and a beta of 1.81.

Institutional Investors Weigh In On TimkenSteel

Large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its holdings in shares of TimkenSteel by 150.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the basic materials company’s stock worth $37,000 after buying an additional 1,200 shares during the last quarter. KBC Group NV acquired a new position in shares of TimkenSteel during the second quarter worth approximately $69,000. J.W. Cole Advisors Inc. acquired a new position in shares of TimkenSteel during the first quarter worth approximately $72,000. Shell Asset Management Co. acquired a new position in shares of TimkenSteel during the second quarter worth approximately $78,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of TimkenSteel in the first quarter valued at $81,000. Institutional investors own 80.61% of the company’s stock.

TimkenSteel Company Profile

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TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products in the United States and internationally. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets, as well as supplies machining and thermal treatment services. The company's products are used in gears; hubs; axles; crankshafts and connecting rods; oil country drill pipes; bits and collars; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.

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Earnings History and Estimates for TimkenSteel (NYSE:TMST)

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